The National Bank of Moldova has suspended today the rights of a group of shareholders of Moldinconbank (MICB), having discovered that they acted in concert, acquiring a majority stake of 63.89% in the bank's capital without having the consent of the NBM.
By acquiring such a substantial stake, the group of shareholders have violated the Law on Financial Institutions. Thus, from tomorrow, they will no longer have the right to vote; to convene and hold the general meeting of the shareholders; to propose issues on the working agenda of the Management Board; to nominate candidates for Board members, for the executive body and auditing committee of the bank, nor to receive dividends.
Additionally, upon the suspension of these rights, the NBM will establish an early intervention regime to ensure a smooth conduct of the bank's activities until the bank solves the problem with the ownership of Moldinconbank.
At the same time, the mandates of some members of the governing bodies of the MICB have expired today, while the National Bank has appointed a temporary administrator and has to appoint temporary members to the governing bodies of the bank. According to the bank’s press release, they are international and local experts with rich experience in the field, who have already been identified and who will ensure the efficient management of the bank over this period.
Recall that similar measures had been previously taken by the NBM with regard to the shareholders of Moldova- Agroindbank. The NBM excluded a group of people acting jointly from the shareholders of the bank.
Please note that Moldinconbank was involved in the scheme, used to launder 20 billion dollars, coming from the Russian Federation, involving judges and court executors from Moldova. Currently, 15 of these judges and three executors are under preventive arrest.